Truist Financial Corp increased its holdings in shares of BWX Technologies, Inc. (NYSE:BWXT – Free Report) by 3.7% during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 6,851 shares of the technology company’s stock after acquiring an additional 243 shares during the period. Truist Financial Corp’s holdings in BWX Technologies were worth $490,000 as of its most recent SEC filing.
A number of other institutional investors have also recently modified their holdings of BWXT. Retirement Systems of Alabama purchased a new stake in shares of BWX Technologies during the 2nd quarter valued at approximately $8,434,000. LPL Financial LLC increased its holdings in BWX Technologies by 9.6% in the 2nd quarter. LPL Financial LLC now owns 15,872 shares of the technology company’s stock valued at $1,136,000 after purchasing an additional 1,386 shares during the last quarter. Crossmark Global Holdings Inc. acquired a new stake in BWX Technologies in the 2nd quarter valued at approximately $402,000. Strs Ohio acquired a new stake in BWX Technologies in the 2nd quarter valued at approximately $2,002,000. Finally, Independent Advisor Alliance increased its holdings in BWX Technologies by 2.9% in the 2nd quarter. Independent Advisor Alliance now owns 34,221 shares of the technology company’s stock valued at $2,449,000 after purchasing an additional 962 shares during the last quarter. 96.98% of the stock is currently owned by institutional investors and hedge funds.
Insider Transactions at BWX Technologies
In other news, Director Robert L. Nardelli purchased 2,000 shares of the business’s stock in a transaction dated Friday, August 18th. The shares were acquired at an average price of $71.23 per share, for a total transaction of $142,460.00. Following the completion of the acquisition, the director now directly owns 2,000 shares of the company’s stock, valued at $142,460. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Robert L. Nardelli acquired 2,000 shares of the company’s stock in a transaction on Friday, August 18th. The shares were purchased at an average price of $71.23 per share, for a total transaction of $142,460.00. Following the purchase, the director now owns 2,000 shares in the company, valued at $142,460. The acquisition was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Director Gerhard F. Burbach sold 1,000 shares of BWX Technologies stock in a transaction on Monday, August 14th. The shares were sold at an average price of $74.07, for a total transaction of $74,070.00. Following the sale, the director now directly owns 1,391 shares of the company’s stock, valued at approximately $103,031.37. The disclosure for this sale can be found here. Corporate insiders own 0.38% of the company’s stock.
BWX Technologies Price Performance
BWX Technologies (NYSE:BWXT – Get Free Report) last released its quarterly earnings results on Wednesday, November 1st. The technology company reported $0.67 earnings per share for the quarter, beating analysts’ consensus estimates of $0.66 by $0.01. BWX Technologies had a net margin of 9.31% and a return on equity of 33.34%. The business had revenue of $589.99 million during the quarter, compared to analyst estimates of $575.47 million. During the same period last year, the business earned $0.69 EPS. The business’s revenue was up 12.7% on a year-over-year basis. As a group, analysts predict that BWX Technologies, Inc. will post 2.95 EPS for the current year.
BWX Technologies Announces Dividend
The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, December 12th. Stockholders of record on Tuesday, November 21st will be paid a $0.23 dividend. The ex-dividend date of this dividend is Monday, November 20th. This represents a $0.92 annualized dividend and a dividend yield of 1.22%. BWX Technologies’s dividend payout ratio is currently 37.70%.
Analysts Set New Price Targets
Several equities analysts have commented on BWXT shares. Maxim Group boosted their price target on shares of BWX Technologies from $75.00 to $85.00 and gave the stock a “buy” rating in a research note on Monday, August 7th. Robert W. Baird upgraded shares of BWX Technologies from a “neutral” rating to an “outperform” rating and boosted their price target for the stock from $61.00 to $85.00 in a research note on Friday, August 4th. Barclays lifted their price objective on shares of BWX Technologies from $70.00 to $75.00 and gave the stock an “equal weight” rating in a research report on Tuesday, August 8th. Alembic Global Advisors cut shares of BWX Technologies from an “overweight” rating to a “neutral” rating and lifted their price objective for the stock from $79.00 to $82.00 in a research report on Friday, November 3rd. Finally, Truist Financial lifted their price objective on shares of BWX Technologies from $77.00 to $83.00 and gave the stock a “buy” rating in a research report on Monday, August 14th. Three research analysts have rated the stock with a hold rating and six have issued a buy rating to the company. Based on data from MarketBeat, BWX Technologies presently has an average rating of “Moderate Buy” and an average price target of $80.38.
BWX Technologies Company Profile
BWX Technologies, Inc, together with its subsidiaries, manufactures and sells nuclear components in the United States, Canada, and internationally. It operates through two segments: Government Operations and Commercial Operations. The Government Operations segment designs and manufactures naval nuclear components, reactors, and nuclear fuel; undertakes fabrication activities for missile launch tubes for U.S.
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